LoanMe

LoanMe, Inc. (“LoanMe”) is in receipt of the above referenced complaint, and we welcome this opportunity to respond to help clarify and resolve the matter. Please allow this to serve as our formal response.

The above-referenced complaint, Complaint ID: 12972168, filed on July 17, 2018, did not raise any new points that were not already raised in the customer’s previous complaints, which we already acknowledged and responded to on July 6, 2018, July 7, 2018, July 10, 2018 and July 14, 2018. After each of our timely replies, the customer has filed a new complaint restating the same issues. The fees that our customer incurred from LoanMe were previously outlined in full detail and were in accord with our customer’s Loan Promissory Note to which she expressly agreed.

LoanMe has provided in detail, the debit amounts, dates of the debit and the reason for the debit relating to fees for late payments and non-sufficient funds. If our customer has new facts or additional information that was not considered in our various responses, LoanMe would be happy to review such information.

LoanMe confirms the account currently shows as “Paid” in our systems, and in 7-10 business days, our customer will receive a copy of the Promissory Note and Disclosure Statement in the mail stamped “Paid in Full”. LoanMe reports to the credit-reporting agency (Experian) on a rolling 30-day period and our customer’s account will be reported as “Paid” upon the next update.

We thank you for this opportunity to respond and should our customer have additional questions or would like to submit additional information, she may contact LoanMe directly at 844-764-***.

LoanMe, Inc. (“LoanMe”) is in receipt of the above referenced complaint, and we welcome this opportunity to respond to help clarify and resolve the matter. Please allow this to serve as our formal response.

The above-referenced complaint, Complaint ID: 12954891, filed on July 10, 2018, did not raise any new points that were not already raised in the customer’s previous complaint, Complaint ID: 12948886, filed on July 6, 2018. LoanMe has already addressed the customer’s concerns stated in both complaints in our initial response of July 6, 2018 and in our follow-up response of July 12, 2018.

To assist our customer with her concerns, LoanMe has provided in detail, the debit amounts, dates of the debit and the reason for the debit relating to fees for late payments and non-sufficient funds. In each case, the debit is consistent with the fees disclosed in the customer’s Promissory Note. LoanMe is not aware of and has no record of the bank account charges listed in the customer’s two complaints.

LoanMe has no control over our customer’s financial institution account charges. We suggest that our customer address those issues directly with her bank.

If our customer has new facts or additional information that was not considered in our initial response or follow-up response, LoanMe would be happy to review such information.

We thank you for this opportunity to respond and should our customer have additional questions or would like to submit additional information, she may contact LoanMe directly at 844-764-***.

LoanMe, Inc. (“LoanMe”) is in receipt of the customer’s follow-up correspondence relating to the above reference complaint, and we welcome this opportunity to respond to help clarify and resolve the matter.

The customer’s follow-up correspondence repeats the issues for which we already acknowledged and responded to on July 6, 2018 and July 12, 2018. Nonetheless, we are happy to further assist our customer with her concern.

Our customer disputes 3 separate fees, each in the amount of $31.00, which are listed on the customer’s bank statement as “RETURNED ITEM UNPAID”. A “RETURNED ITEM UNPAID” fee is typically the fee a consumer’s bank charges for a returned item, i.e., when there is insufficient funds in the consumer’s bank account to cover a draft, which was the case here.

As we have previously suggested, our customer could satisfy her fee dispute by contacting her bank to confirm which institution charged the “RETURNED ITEM UNPAID” fees. Our records confirm that LoanMe did not debit our customer’s bank account for the “RETURNED ITEM UNPAID” fees.

In order to further investigate any disputed charges, we ask that our customer provide us with a copy of a running bank statement for the months that are in question. We have requested this information from our customer via email on various occasions, but have yet to receive a reply.

We thank you for this opportunity to respond and should our customer have additional questions she may contact LoanMe directly at 844-764-***.

LoanMe Revdex.com Complaint – Complaint ID: ***

LoanMe, Inc. (“LoanMe”) is in receipt of the above reference complaint, and we welcome this opportunity to respond to help clarify and resolve the matter. Please allow this to serve as our formal response.

We have reviewed our records, all correspondence and telephone conversations (all of which are recorded) in connection with our customer’s complaint. Our records confirm that our customer obtained an unsecured consumer installment loan on November 12, 2015, which included the funded amount of $3,100.00 minus a $75.00 origination fee. During the application process, a loan agent reviewed the terms of the loan with our customer, including the interest rate, the APR, the monthly payment amount, the origination fee, and the number of payments required on the loan if paid as scheduled. Our customer agreed to the terms as explained, proceeded with the loan application, then executed her loan Note, certifying that she read and agreed to be bound by the terms and conditions of the Note.

Our customer’s loan fell delinquent and despite our attempts to assist our customer in finding an acceptable payment arrangement, the loan became further delinquent. After all attempts by LoanMe to work out a payment arrangement with our customer were unsuccessful, LoanMe initiated legal proceedings to collect the debt that was owed. On May 02, 2016, the Superior Court of Riverside entered a judgment in favor of LoanMe and a Writ of Execution was served by the Riverside *** Sheriff on our customer’s employer for the garnishment of wages.

On May 31, 2018, we received a call from our customer, regarding the conversation that one of our representatives had with her employer on May 30, 2018. Our representative explained to our customer that based on the Los Angeles *** Sheriff’s Case Summary Report, the active garnishment still showed an unpaid balance of $253.04 and that we contacted her employer about the balance still owed. Our representative further expressed that the outstanding amount may be related to unpaid sheriff’s fees and any unpaid balance that she still owed.

As the garnishment and collection of our customer’s debt is being administered by the Los Angeles *** Sheriff, our representative encouraged our customer to contact the Los Angeles *** Sheriff directly to obtain a complete accounting of her balance at 213-972-3930 (extension 2).

Upon receipt of this complaint and in an effort to assist our customer, LoanMe contacted the Los Angeles *** Sheriff, and requested an accounting of funds report to be sent via facsimile to LoanMe’s Small Claims department and also to the customer’s employer. As of the date of this reply, we are awaiting receipt of the accounting of funds report from the Los Angeles *** Sheriff.

We thank you for this opportunity to respond, and hope that we have helped to clarify the matter for our customer. If our customer has additional questions or concerns, she may contact LoanMe directly at 844-764-7368.

LoanMe, Inc. (“LoanMe”) is in receipt of the above referenced complaint, and we welcome thisopportunity to respond to help clarify and resolve the matter. Please allow this to serve as ourformal response.We have investigated our customer’s concerns by reviewing our records and telephoneconversations (all of which are recorded). Our records confirm that our customer initiated anonline loan application with LoanMe on March 15, 2017. Shortly thereafter, our loan agentcalled our customer to complete the application process. Upon completing the application andcredit check, our agent advised our customer that she was prequalified for a $2,600 personalloan, which had a $75 origination fee, the monthly payment amount of the loan, the 47 monthterm, no prepayment penalty, the interest rate of the loan, and the Annual Percentage Rate (APR)of the loan. Our agent also informed our customer that it would be in her best interest to pay theloan off right away due to the high rates. Before proceeding further, our agent asked if what hehad explained made sense and asked if our customer had any questions. Our customeracknowledged to our agent that she understood what was stated and wished to move forward.We spoke with our customer a second time on March 15, 2017. During this call, we advised ourcustomer that the loan had been fully approved. The recorded call record of 03/15/2017commencing at 4:33 P.M. confirms that prior to proceeding to the e-Signing of the loandocuments, our loan agent reviewed all of the terms under the Truth in Lending Act Disclosureand again pointed out the APR, finance charge amount, amount financed of and total amountpaid if the customer kept the loan for the entire 47 month term. Our agent also reviewed thepayment schedule as noted on the Promissory Note, as well as advised of the interest rate.Additionally, during the call, on three occasions, our loan agent called attention to the highinterest rate and stressed the importance of paying off the loan early to avoid paying the highinterest. In recognition of our agent’s advise, our customer replied that she intended to pay offthe loan “next month”.While our customer read through the loan disclosures, our loan agent is on record in affordingour customer as much time as she needs to review the loan terms when he states four separatetimes: 1) “There is no rush”; 2) “Please take a few minutes to read the page”; 3) ”Please takeyour time, I’ll be right here”; and 4) “Let me know when you hit continue, no rush.” After eachof these statements, our loan agent pauses and awaits our customer’s verbal indication that shehas finished her review of a document and is ready to proceed to the next. The recorded callrecord of 03/15/2017 is supportive of the fact that our customer reviewed her loan terms anddisclosures, and signed her loan documents in a time interval of her own choosing, without beingrushed as she is claiming.During this same call, we informed our customer that we would need to complete anemployment verification prior to funding the loan and asked if she had a direct line at work thatshe could be reached at. Our customer informed us at this time that she would be working fromhome until the upcoming Monday but stated that someone should be able to verify heremployment.Upon attempting to verify our customer’s employment at the phone number she provided, wewere informed that our customer was in fact not currently employed there, and that heremployment was not set to begin until Monday, March 20, 2017. When our customer called uson March 16, 2017 to inquire about the funding of the loan, our agent informed her that theemployer informed us that she was not currently employed and that she would not start her newjob until the upcoming Monday. This meant that for loan qualifying purposes, we would not beable to fund the loan until she was employed and a new e-Signing of the loan documents wouldalso be required.On Monday, March 20, 2017, we verified that our customer started her new employment.Because our customer had not been forthcoming with respect to her not being employed at thetime of her March 15, 2017 loan document e-Signing, we arranged a new e-Signing of her loandocuments. During this loan document e-Signing call, our agent once again reviewed the termsof the loan with our customer prior to her signing loan documents.The recorded call record of 03/20/2017 commencing at 11:13 A.M. confirms that prior toproceeding to the e-Signing of the loan documents. Our loan agent once again reviewed all of theterms under the Truth in Lending Act Disclosure with our customer.Similar to her March 15, 2017 e-Signing, while our customer read through the loan disclosures,our loan agent is on record in affording our customer as much time as she needs to review theloan terms when he states three separate times: 1) “Review and when you are ready, hitcontinue”; 2) “Please take a few minutes to read the page”; and 3) ”Make sure you have no otherquestions.” After each of these statements, our loan agent pauses and awaits our customer’sverbal indication that she has finished her review of a document. Once again, the recorded callrecords are supportive of the fact that our customer reviewed her loan terms and disclosures, andsigned her loan documents in a time interval of her own choosing, without being rushed as she isclaiming.In accordance with the Truth in Lending Act (“TILA”), LoanMe’s Promissory Note andDisclosure Statement (“Note”) properly displayed the loan terms and provided the requireddisclosures, including the interest rate, the APR, the Finance Charge, and the repayment scheduleof 47 months. In addition, the terms of the Note disclosed that interest is calculated on a 360/360simple interest basis, and that the loan can be paid in part or full at any time without incurring aprepayment penalty. The Note she executed also stated that, “THE LOAN CARRIES A VERYHIGH INTEREST RATE. YOU MAY BE ABLE TO OBTAIN CREDIT UNDER MOREFAVORABLE TERMS ELSEWHERE. EVEN THOUGH THE TERM OF THE LOAN IS47 MONTHS, WE STRONGLY ENCOURAGE YOU TO PAY OFF THE LOAN ASSOON AS POSSIBLE. YOU HAVE THE RIGHT TO PAY OFF ALL OR ANY PORTIONOF THE LOAN AT ANY TIME WITHOUT INCURRING ANY PENALTY. YOU WILL,HOWEVER, BE REQUIRED TO PAY ANY AND ALL INTEREST THAT HASACCRUED FROM THE FUNDING DATE UNTIL THE PAYOFF DATE.” Our customersigned the document electronically in compliance with the Electronic Signatures in Global andNational Commerce Act (E-SIGN), indicating that she read and agreed to be bound by the termsand conditions of the Note.The terms of her loan were again communicated to our customer during the Welcome Call onMarch 22, 2017, after the loan was funded. Our customer indicated that she understood and didnot have any questions or concerns at that time.Based on the foregoing facts which are supported by the documentation and our recorded callrecords, it is evident that our customer was properly informed of the terms of her loan onmultiple occasions and was afforded as much time as she needed to review her loan documentsand make her decision to accept the loan.In November 2017, we began to receive emails from our customer stating that she was neveraware of the interest rate. One of our Customer Concern’s representatives reached out to ourcustomer, in an attempt to resolve the issues that she had raised. In the interests of best servingour customer, on November 29, 2017 we allowed our customer to listen to the recordedtelephone conversations relating to the signing of her loan documents with our agent. Althoughthe recorded calls support the fact that our customer was properly informed of her loan terms,our customer did not agree and advised that she would be contacting her attorney.During a second conversation on November 29, 2017, our customer expressed interest in settlingher account and offered to pay $2000.00. Our representative countered our customer’s offer withan amount of $2584.39, which was the remaining principal balance on her loan. Our customerdid not accept this offer and stated that she would speak with her attorney. During this call welearned that our customer had not retained an attorney, but that the person was in fact a familymember with whom she was consulting in regard to this matter and requested to add the personas an authorized party on the loan.We spoke with our customer again on December 19, 2017, regarding the terms of the loan. In anadditional effort to assist our customer, while under no obligation to do so, LoanMe approvedour customer for a lesser settlement than previously discussed. Per the new settlement offer, thecustomer would pay one lump sum of $2,325.00. Our customer declined our offer.A review of our customer’s payment transaction history reflects that the customer had defaultedon numerous payments, and became more than 120 days past due. As a result, the loan wascharged-off on April 2, 2018.We recently spoke with our customer on May 30, 2018 and again, while under no obligation todo so, we offered her another settlement in the substantially reduced amount of $1295.00. Ourcustomer, once again, declined.LoanMe has made multiple attempts in our effort to assist our customer by substantially reducingthe debt she owes, while under no obligation to do so. However, she has declined each of ouroffers. We are still willing to assist our customer in resolving her debt, by again offering theprior discussed settlement of $1,295.00. If paid as required, LoanMe will report the account as“Settled” to the credit-reporting agency and forgive the remaining amount of the debt. Pleasenote that reporting the account as “Settled” will not remove the reporting of any delinquentpayments, or the fact that the loan has been charged-off from our customer’s credit reporthistory.LoanMe reports to the credit-reporting agency (Experian) on a rolling 30-day period. It is thepolicy of LoanMe to provide timely and accurate information to the credit-reporting agency perthe Fair Credit Reporting Act (“FCRA”).In closing, we would like to thank you for this opportunity to respond, and hope that we havehelped to clarify the matter for our customer. Should our customer have additional questions orconcerns, she may contact LoanMe directly at 844-764-***.

LoanMe, Inc. (“LoanMe”) is in receipt of the above reference complaint and we welcome this opportunity to respond to help clarify and resolve the matter. Please allow this to serve as our formal response.

Initially, it is important to note that LoanMe is licensed and regulated by the State of California Department of Business Oversight (License #***). Additionally, California Financial Code Section exemptions for loans over $2,500 permit the interest rate to be the interest rate agreed to by the parties. Accordingly, our customer executed a loan Note for a loan amount over $2,500 and certified that she read and agreed to be bound by the terms and conditions of the Note.

Our records confirm that our customer agreed to an unsecured consumer installment loan on May 15, 2016, which included the funded amount of $3,100.00 minus a $75.00 origination fee. In October 2016, our customer’s account fell delinquent. We took our customer’s financial situation into account and, while under no obligation to do so, we offered our customer a settlement agreement to lower the monthly payments to $225.00, over a 17 month term at 0% interest, with the first payment in the amount of $351.09. Our customer agreed to the settlement and thereafter made only 5 of the 17 required settlement payments.

In April 2017, our customer failed to make the required payment pursuant to the settlement agreement. As a result of this payment default, the settlement agreement was rendered void, the loan was charged off and subsequently sold to Buyers Holding, LLC on May 4, 2017. Thus, LoanMe no longer owns the customer’s loan and is not collecting on this debt.

LoanMe is not affiliated with or has any knowledge of the company API Recovery, as cited in the customer’s complaint. Therefore, we are not able to address any issues regarding API Recovery.

LoanMe has forwarded our customer’s concerns and a copy of this response to Buyers Holding, LLC for their review. Any further questions or concerns regarding the loan should be referred to Buyers Holding, LLC and they may be contacted directly at ***, or at the following address:

Buyer’s Holding, LLC
***
***

In closing, we would like to thank you for this opportunity to respond, and hope that we have helped to clarify the matter for the customer. If the customer has additional questions or concerns, they may contact Loan Me directly at ***

cc: Buyers Holding, LLC

LoanMe, Inc. (“LoanMe”) is in receipt of the above reference complaint and we welcome this opportunity to respond to help clarify and resolve the matter. Please allow this to serve as our formal response.

Our records indicate that our customer obtained an unsecured small business loan on December 17, 2014, which included the funded amount of $7,000 minus a $700.00 origination fee. The customer proceeded to make all payments as scheduled using automatic drafts from his checking account, which he authorized and agreed to during the loan process.

On April 25, 2017, our customer called LoanMe to inquire about refinancing his loan, in an attempt to reduce the amount of interest being paid. While under no obligation to do so, we offered our customer a modification which would reduce the interest rate and lower the monthly payment amount substantially. Our customer did not agree to move forward with the discussed modification, and instead insisted on settling the loan for $4500.00. On April 26, 2017, we spoke with our customer and informed him that LoanMe would be willing to accept a settlement of the loan for a lump sum of $6,715.00. Our customer called back on April 29, 2017 to take advantage of the settlement and asked to split $6715.00 into 2 payments of $3,357.50. We agreed to the customer’s request to split the settlement of his loan into 2 payments and accepted the customer’s first payment during that same call via his debit card. During this conversation, we explained to our customer that this would be a settlement of his loan balance for the lesser amount of $6,715.00, split into 2 payments, at a zero percent interest rate, and our customer agreed.

Pursuant to the loan settlement, if paid as required, LoanMe would report the customer’s account as “Settled” to the credit reporting agency and forgive the remaining amount of the debt owed, but only once the conditions of the settlement arrangements were fulfilled completely. The 2nd settlement payment was paid on May 30, 2017. The account was updated to reflect Settled, and a Settled in Full document was sent to our customer via email, per his request on June 8, 2017.

LoanMe reports to the credit-reporting agency (Experian) on a rolling 30-day period. It is the policy of LoanMe to provide timely and accurate information to the credit-reporting agency per the Fair Credit Reporting Act (“FCRA”). Accordingly, LoanMe has reported the customer’s account accurately. As it is our obligation to report accurate information to the credit reporting agencies, LoanMe will unfortunately not be able to remove the reporting of this account as a “settlement” from the customer’s credit report. The customer may dispute the accuracy of our credit reporting directly to the credit-reporting agency; however, if the credit-reporting agency seeks to verify the disputed information, we must confirm its accuracy.

In closing, we would like to thank you for this opportunity to respond, and hope that we have helped to clarify the matter. If our customer has additional questions or concerns, he may contact LoanMe directly at 844-764-7368.

LoanMe, Inc. (“LoanMe”) is in receipt of the customer’s additional information relating to his original complaint filed on April 23, 2018, to which we previously replied. We have reviewed the customer’s additional information as well as our records and telephone conversations (all of which are recorded). We take all complaints seriously and welcome this opportunity to respond to help clarify and resolve the matter. Please allow this to serve as our formal response.Consistent with our response to the customer’s April 23, 2018 complaint, our records confirm that we received a call from our customer on April 25, 2017 wherein he requested a loan settlement, after rejecting a loan modification that had been offered to him. During this conversation, we provided our customer with the current payoff amount of $7,246.90. In response, our customer requested to settle the loan for $4,500. We advised our customer that we would submit his settlement offer to management for review and provide a status within 24-48 hours. We called our customer back on April 26, 2017, advised him that his settlement offer was not accepted and we countered with a settlement offer of $6,715. In turn, our customer countered our offer, asking to split the lump sum of $6,715 into 2 payments. While under no obligation to do so, we agreed to the customer’s settlement offer, processed a 1 time debit card payment in the amount of $3,357.50 on April 29, 2017 and received the 2nd payment of the settlement the following month. LoanMe reports to the credit-reporting agency Experian. It is the policy of LoanMe to provide timely and accurate information to the credit-reporting agency per the Fair Credit Reporting Act (“FCRA”). As it is our obligation to report accurate information to the credit reporting agencies, LoanMe reported the customer’s account as “settled”.On April 27, 2018, we received a call from our customer, disputing that his loan was reported to the credit-reporting agency as “settled”. We allowed our customer to listen to the recorded conversations in which he discussed and agreed to a loan settlement. Afterward, he requested to pay off the remaining balance on the loan, so it could be reported as “Paid in Full” on his credit report. While under no obligation to do so, in an additional attempt to assist our customer, we allowed him to pay the remaining balance of $1,063.78. Once this payment posts to our customer’s account, the loan will reflect a “Paid in Full” status and the credit-reporting agency (Experian) will be updated. We thank you for this opportunity to respond and hope that we have helped to clarify the matter. Should our customer have additional questions, he may contact LoanMe directly at 844-764-7368.

LoanMe, Inc. (“LoanMe”) has reviewed the above referenced
complaint filed on March 3, 2018, as well as our records and telephone
conversations (all of which are recorded).
We take all complaints seriously and welcome this opportunity to respond
to help clarify and resolve the matter.
Please allow this to serve as our formal response.

Our
records indicate that our customer obtained an unsecured consumer installment
loan on October 10, 2017, with a principal loan amount of $2,600.00 minus a
$75.00 origination fee.

Our
records reflect that as of February 1, 2018, our customer’s account was delinquent
for 2 monthly payments. LoanMe reissued a draft to the customer’s bank for one
full monthly payment of $388.40, which cleared and posted to the customer’s account.
LoanMe received a call from our customer on February 08, 2018 to obtain his
payoff amount, and we advised him of the payoff amount at the time. Because at that time the February payment was
still owed and in a pending status, the payoff amount the LoanMe representative
provided to our customer at that time did not include the payment due in
February as reflected in the payoff balance that was provided. This was due to
a timing issue regarding the pending payment, with our payoff calculation
system. Our customer proceeded to
schedule a payment for the payoff amount he was advised, which as a result did
not pay off the loan in full.

Our
records show that we received a call from our customer on February 27, 2018,
after receiving a payment reminder for a payment due in March. A supervisor was
able to make sure our customer’s account was not drafted, and we have confirmed
that LoanMe has not made any attempt to draft the customer’s account since the
large payment our customer paid in February.

Due
to the incorrect payoff amount provided by LoanMe, we have taken steps to
remedy the error, and we want to sincerely apologize for any confusion this may
have caused our customer. To honor the payoff amount our agent advised our
customer, we have accepted the payments our customer made toward his loan as
the full payoff on the loan. The status of our customer’s account has been
changed to “paid in full”, and he will receiving documents that reflect that
status shortly

We
thank you for this opportunity to respond, and hope that we have helped to
clarify the matter for our customer. If
our customer has additional questions or concerns, he may contact LoanMe
directly at 844-764-7368.

LoanMe, Inc. (“LoanMe”) has reviewed the above referenced
complaint filed on March 2, 2018, as well as our records and telephone
conversations (all of which are recorded).
We take all complaints seriously and welcome this opportunity to respond
to help clarify and resolve the matter.
Please allow this to serve as our formal response.

Initially,
please note that LoanMe is a California Finance Lender that offers unsecured installment
loans to qualified consumers, as well as unsecured commercial installment loans
to qualified businesses. LoanMe is licensed by the State of California DBO
Financing Law, License #603K061, thus regulated by California Financial Code
Sections [22000 – 22347]. Pursuant to
California Financial Code Sections 22002, 22250 and 22251, a California Finance
Lender licensee is exempt from interest rate limitations for unsecured loans
with a principal loan amount of $2,500 or more.

Our records indicate that our
customer entered into an unsecured small business loan (“SBL”) with LoanMe
on June 15, 2015, with a principal loan amount of $70,000.00. The terms of the
loan were clearly disclosed on the customer’s Small Business Loan Promissory
Note and Disclosure Statement. Since the customer’s SBL principal loan amount
is more than $2,500 ($70,000) and the loan is unsecured, California Financial
Code Section exemptions for California Finance Lender licensees permit the
interest rate to be the interest rate agreed to by the parties.

A review of our customer’s payment transaction history
reflects that the customer had defaulted on numerous payments, and became more
than 120 days past due. As a result, the
loan was charged-off on January 02, 2018.
LoanMe records support that phone calls between LoanMe and our customer
(all of which are recorded) were at all times conducted in a professional manner
in an attempt to help resolve our customer’s delinquent account.

In an effort to assist our customer, a LoanMe representative
explained that LoanMe offers several financial assistance programs based on a
customer’s demonstrated hardship. While under
no obligation to do so, LoanMe approved our customer for a loan modification on
March 31, 2017. Per the loan
modification agreement, the monthly payment amount and interest rate were substantially
reduced.

A LoanMe representative also explained to the customer that the
settlement arrangement required that scheduled payments be made on or before
the due dates, and if paid as scheduled, LoanMe would forgive the unpaid
portion of the loan. Our representative
further explained that if the conditions of the settlement arrangement were not
fulfilled, then the settlement arrangement would be cancelled and the terms of
the original loan agreement would be enforced.

Our customer entered into two separate settlement
arrangements during the life of the loan, but both arrangements were unfortunately
cancelled because of the customer’s nonpayment.

In closing, we would like to thank you for this opportunity
to respond, and hope that we have helped to clarify the matter for our customer.
Should our customer have additional questions or concerns, they may contact
LoanMe directly at 844-764-7368.